Just 10 bitcoins are enough for your retirement if you are going to retire only after 20 years.
Even only one bitcoin is more than enough after 20 years. But by considering 2036 commodity prices, you may need 10 Bitcoins to lead your rest of life happier.
Why would it be enough? How would you know that BTC will be worth many, many thousands USD per? Nobody knows where BTC will be in one year, why would it be possible to know what it will be worth in 20? Bitcoin will bring about a revolution but that doesn't mean that Bitcoin won't itself die in the progress. No revolution without its toll in blood. Remember? Well this is more of an speculation thread than economics, so we can speculate, and I think he is right. But my ideal luck number is 21, because of the fact there are 21 million coins, so you are a "millionthaire" and wealthier in BTC than 99.99% of people in the world. |
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I will do this later, im at work right now and don't wanna get caught slacking off while I should be dealing with excel spreadsheets lol. My break is too short to o the survey so I will do it at home. But as far as keeping your bitcoins safe im a good ol paranoid and only trust Bitcoin Core + linux.
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I think Hearn has contributed a lot in the past and the Lighthouse stuff is interesting but at some point he started acting as if he had an agenda to stabilize core and get his own hard fork as the main Bitcoin only because he would be pissed off at his BIPs not being passed.
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If you look at the halving graph, you will see that over time, at aroud 2027, the curve starts becoming really step. Im pretty sure now that what satoshi meant by "if bitcoin survives it will either be worth nothing or a lot" will be solved at around that time. At around that time, anyone holding a decent amount of Bitcoin will either be retired or holding something that doesn't have much value. I think we have way more chances to see Bitcoin to 100.000+ a coin by about that time than we have of seeing it go to 0.
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£1000000 seems unlikely for bitcoin. If bitcoin ever hit £1000000 then the £1000000 might not worth as much as £1000000 of today.
Not necessary. Of course inflation is a given since all fiats hyperinflate eventually, but defeinitely enough to retire? hell yes. Guys like the CEO of Xapo are saying they believe in 1 million per coin in every interview and he wouldn't risk his and his company reputation if there wasn't solid reason to believe: https://www.youtube.com/watch?v=ORcFGBhDDisI also love the "Bitcoin is not going anywhere" vibe from the hosts, these naive idiots don't see it coming. It feels great being ahead of so many people. It's exactly how I felt back in the day when I was the only weirdo using internet in town. |
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I don't think any of us will get rich any time soon. Btc price has been stagnating over the last 22 months. I think the wild rides are over. The only thing remaining is the halving event. Next halving in June/July'2016 will take us to around 500-700, and will come right back down to 230 or so.
Something like Bitcoin has never done before. It disrupts industries that were never ever before encountered such competition, potentially ending up rendered as useless due the superior Bitcoin tech. We are entering uncharted territory. Predictions are purely speculative, but it doesn't take rocket science into seeing the potential. So we either go to 0 or we become rich in the next decade. There are no in betweens with this thing. If it takes off it will take off for real. |
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I don't think that it is possible to earn a living online, unless you are living in the United States or Canada. That said, if you have good English / German / Italian language comprehension and standard writing skills, you can supplement your regular income by writing articles. There are other options as well, but none of them will give you enough money so that you can dump your regular job.
Why tho? All that matters is what amount of traffic you get and from where it comes from. As long as you get quality traffic (quality = from developed countries such as USA, Europe and Canada) you will get way higher conversion rates per thousand than what you would get if your traffic was coming from like Venezuela or some poor country, but where you live doesn't matter as long as you manage to get the quality traffic. |
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Apparently in spain their constitution states that it's illegal that a territory claims independence by themselves, this means that the entire country (spain) has to to vote or something along the lines. Which means if the president of catalonia decides to claim independence by themselves even if they get a big majority, it's still illegal.
I think this is right. A state cannot break away from a country by a vote for independence. Usually this would result in a civil war. If Catalonia breaks away from Spain, they are breaking away from Eurozone too. They cannot have it both ways. They can declare Euro as legal tender in Catalonia but they will need to have their own currency pegged to Euro. Could Barcelona still be in the Spanish Primera Division?  I don't think so. I know a guy that lives in spain and he told me the elections was today and more than 52% of people voted for "no", yet the majority of seats is from pro-independent parties somehow. This makes no sense to me, I guess I don't understand the method they use over there for voting. |
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The most valuable single banknotes in the world are the S$10,000 note from Singapore (worth around $8,000) and the B$10,000 note from Brunei. Counterfeiting is very very rare in these countries, as the punishments for doing it are extremely harsh. And the S$10,000 note is very frequently used by the Singaporeans, in day to day life.  I wonder what the Singaporeans buy with those huge bills? who in hell spends that much amount of money in a "day to day life"? It must be only a 1% of rich people over there moving that kind of money daily, that's near an entire year salary in some European countries. |
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I heard lending out bitcoin will make our bitcoin to grow in pace as well as securely. But, we need to verify the borrower more thoroughly before deciding a borrower. Getting a salary in bitcoin would be a more secure option :-)
lending out bitcoins to people isn't as interesting as it looks. especially when altcoins are being used to secure the loan. what if the altcoin price of the coin that is being used as collateral is dropping with 50% and the one that took the loan defaults. that means the potential profit is gone and you lose a part of your bitcoins too. I have looked into BTC Jam and it seems even A+ verified members still don't pay you back. I don't know what to do at this point, there doesn't seem to be a clear way to make money off Bitcoin, specially in the loaning space. It seems like a big gamble, and I would rather go to the casino than go there and basically have them stealing my money without no consequences. |
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So it seems it's just pointless to pay anything that goes above the standard fee. The wallet as far as I know calculates the perfect fee in terms of cheap+effective in relation to the currrent difficulty and whatever other variables and that seems like the best option.
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For privacy, I use blockchain.info's SharedCoin (a type of mixer) to avoid linking my BTC spends/transfers to my main wallet. Has there been any indication that using a service like that could prevent a company from being willing to transact with you?
Of course, if the answer is no, this brings to mind a question like: why wouldn't a person with BTC from an undesirable source just use a mixer?
Mixers are ultimately poor workarounds. You are trusting that the mixer service is not keeping logs. It's a centralized measure. It requires trust, it's not a real solution. Also it's annoying as hell that everytime you use Bitcoin you have to first send it to some mixing service to guarantee privacy. Something needs to be done about this so this privacy is by default in-built in every wallet without needing to trust some mixing company. |
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The problem with bitcoin is that it is purely virtual entity. It is hard to estimate assets cap of all bitcoin projects and startups.
Some say it is over 3 billion dollars market, but bitcoin companies are 'weak' they do not produce anything, they do not supply people with ideas.
They are so far only payment processor companies, wallets and financial institutions (exchanges).
Well then what is Blockstream? There are advancements of the technology happening all the time trying to improve it, Blockstream is a clear example, im sure there are more stuff happening out there, but a lot of people seems to be fighting to become the PayPal of bitcoin. I hope they all go bankrupt, Bitpay seems like it's already headed to fail. Good riddance. |
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Well cloud mining is nearly almost always a scam, either a HYIP in disguise or just a hole for your money.
no hashnest is legit, they provide the best opportunity for profit, you can actually roi with them, it's up to you, on how much you are willing to wait it's not so much different if you do it yourself withyour miners, i would blame the whole miners system and not cloud mining Hashnest is a legit site and they do provide the best cloudmining service but people need to keep in mind that it's not just about buying some mining contracts. People need to know when to get in and buy. They need to follow the hashrate, difficulty and price of the Bitcoin very carefully. They actually need to know what they are doing and have some experience in mining. This is something that newbies often lack so they just end up losing money or breaking even. That it, you gotta take advantage of those variables and try to predict what will happen, but ultimately is just like directly investing in Bitcoin, so you might as well cut the middle men and go to an exchange and start trading, it's pretty much the same thing but less fancy. |
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There's a pretty hardcore mode to store BTC. I think there's a way to put a countdown in a wallet so it locks and it's impossible to access it until the countdown is done. So what you do is set the countdown to 1 year, this will pretty much force you to hold 1 year, effectively saving money. Nothing more straight forward than that.
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I think paper money have its own importance and will never dead. Though people are started using debit cards, credit cards and other digital currencies; there are some transaction which needs to be deal in traditional cash only. Paper money will be always the main mode of payment for day to day transactions.
Physical money will eventually die, or will be something that only hipsters use, just like vinyl. Everyone else will be using digital media. Physical money is inconvenient, and just annoying, once you have the digital alternative. We better have improved anonymity features by then to, because that's the gov's ultimate wet dream: digital only money and all the stuff being accessible for them in an huge transparent ledger (while big corps keep their shit hidden in secret vaults). That's hardly possible, unless the demand for cash from general public somehow fizzles out completely. If some government decides to squeeze cash out of circulation (despite the existing demand), people will find a substitute. It may be a foreign currency, or the remaining cash will part in value with the purely digital money... Lol people will do whatever the goverment decides. Since when does people have a say on anything. There's an agenda to get rid of physical money in the next 20 years, look it up. During our lifetimes physical money will turn into an archaic thing that will make kids of that generation think we were some unevolved people while they rock their smartphones to buy stuff everywhere. |
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What?
Who has the most power over Bitcoin? Right, these are mining pools. Who is most interested in preserving the current block reward? The same mining pools... Look at this way: The miner cartels fuck around with basic fundamentals of Bitcoin such as halving (and let alone other stuff such as total supply or whatever they have a say at) and everyone dumps in fear and all they get is a dead economy. So as you can see it doesn't benefit them. |
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I don't believe there is a method to become rich...
There is Indeed a method to become "rich", it's called "the Compass"; in fact there is a coin about that whose name is Think and Get Rich Coin (TAGR). But first you need to ask yourself what "Rich" means; an african boy would be rich if his life is just like the one you have: food and water in the fridge, warm water for a shawer and a a concrete roof in your house. Rich means living without having to work in a first world environment, thats what everyone in here thinks about when they mean rich. I don't believe in a relative term of richness, there is an objective amount of money threshold where everyone would feel rich, and that's exactly that, not having to work in the first world. |
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Im pretty sure satoshi intended Bitcoin to do a very simple thing: Move wealth from A to B without intermediaries, worldwide.
Of course, I say simple ironically, because the technology behind it is what makes it a trillion-dollar marketcap worthy.
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Well, im pretty certain that during an hour there are numerous opportunities to gain at least 1 dollar due the constant market noise on the Bitcoin price. It would be cool to know the statistics on how many times per hour BTC goes up and down in increments of 1 dollar. You would only need to buy, wait for the price to be above 1 dollar where you bought and sell. Do this right once hourly and you are doing what you wanted.
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